Planned Solutions Inc. Cuts Stake in Elastic (NYSE:ESTC)

Planned Solutions Inc. lessened its holdings in Elastic (NYSE:ESTC) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,665 shares of the company’s stock after selling 1,075 shares during the quarter. Elastic accounts for 2.1% of Planned Solutions Inc.’s investment portfolio, making the stock its 13th biggest position. Planned Solutions Inc. owned 0.05% of Elastic worth $5,317,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Blueshift Asset Management LLC bought a new stake in Elastic in the third quarter valued at approximately $585,000. Charles Schwab Investment Management Inc. increased its stake in shares of Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock worth $41,901,000 after buying an additional 14,590 shares during the period. Bangor Savings Bank bought a new stake in Elastic during the 4th quarter valued at $1,657,000. Fifth Third Wealth Advisors LLC purchased a new stake in Elastic during the 3rd quarter valued at $1,262,000. Finally, Vestcor Inc bought a new stake in Elastic in the 3rd quarter worth $1,919,000. 97.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ESTC. Citigroup increased their target price on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Truist Financial lifted their price objective on Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company upped their target price on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Morgan Stanley assumed coverage on shares of Elastic in a report on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $125.70.

Elastic Stock Up 0.5 %

Shares of Elastic stock opened at $100.49 on Tuesday. The company has a 50-day simple moving average of $101.86 and a two-hundred day simple moving average of $95.49. The stock has a market capitalization of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $18,637,562 in the last three months. Insiders own 15.90% of the company’s stock.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.